DETROIT, July 20, 2021 /PRNewswire/ - Gage Growth Corp. ("Gage" or the "Company") (CSE: GAGE), a leading high-quality premium cannabis brand and operator in Michigan, is pleased to announce that Gage and Pure Beauty ("Pure Beauty") have entered into an exclusive five-year partnership agreement (the "Partnership") to launch Pure Beauty's line of premium cannabis products in the state of Michigan, pending Michigan regulatory approval. Pure Beauty is a California-based boutique cannabis brand that combines art, culture, and style with sustainable and social justice practices.
Through the Partnership, Gage will be the exclusive producer, processor, wholesaler and retailer of Pure Beauty branded products in Michigan. Gage and Pure Beauty will work to develop and commercialize a product lineup that includes flower, a full range of pre-rolls, extracts, beverages and edibles that will be sold at Gage branded provisioning centers (dispensaries).
"Our mission is to bring unique, high-quality products to market, while being mindful of the social and environmental implications intrinsic to the cannabis industry," said Imelda Walavalkar, CEO of Pure Beauty. "As a brand that cares deeply about art and culture, we felt very aligned with Michigan's distinct and thriving culture, specifically with Gage, who we find to be among the best cultivators and operators in the nation. We are confident they will execute at the highest level as they share our commitment to social justice. We could not be more excited about this partnership."
"We are thrilled to announce this partnership with one of the top brands in cannabis," said Fabian Monaco, CEO of Gage. "Brand recognition is key to winning in the cannabis industry and with the addition of Pure Beauty to our brand portfolio, we look forward to creating and delivering the highest-quality cannabis products and experiences to our customers and patients."
Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm's founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage's portfolio includes city and state approvals for 19 "Class C" cultivation licenses, three processing licenses and 14 provisioning centers (dispensaries).
About Pure Beauty
Founded in 2017 by entrepreneurs Imelda Walavalkar, Tracy Anderson and Irwin Tobias Matutina, Pure Beauty is a boutique cannabis lifestyle brand that represents a movement to create an inclusive, potent community that emphasizes – and always seeks to advance – high-quality products, creative culture, sustainable practices and social justice initiatives within the green space.
Since its inception, Pure Beauty has been committed to environmental responsibility within its own cultivation sites and the use of environmentally conscious packaging to minimize waste.
The brand's dedication to art and style, environmental stewardship and societal equity informs the development of each of its products. Through partnerships and collaborations both within and outside of the cannabis community, Pure Beauty is redefining what cannabis culture can be, while also staying true to what the plant represents.
The Pure Beauty Drugstore, an ecommerce platform that expands the brand beyond cannabis into a lifestyle, houses a highly curated selection of merchandise within the brand's major cultural pillars of art, music, furniture, apparel and accessories.
Learn more at purebeautypurebeauty.co.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.
Explanatory Note Regarding the Company's Operations
References in this news release to the Company and its operations and portfolio are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company. For additional information, please refer to the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to future growth of the Michigan market, future product offerings of Pure Beauty products by Gage and the delivery of high quality products and experiences. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information including, but not limited to, those risks disclosed in the Company's long form prospectus dated March 26, 2021 and other disclosure documents available on the Company's profile at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE Gage Cannabis Co.